“This acquisition furthers our geographical diversification efforts and enables us to participate in a growth market outside our existing system footprint,” said Clark C. Smith, President and Chief Operating Officer of Buckeye’s general partner. “We believe this acquisition will create additional synergies between our Terminalling & Storage business segment and our Development & Logistics business segment which currently operates or maintains approximately 2,400 miles of pipeline in the Gulf Coast region. Furthermore, we have already seen substantial industry interest in a potential expansion of the terminal that would accommodate the needed supply in the Alexandria, LA to Lafayette, LA corridor.”
Buckeye Partners Completes Purchase Of Products Terminal In Opelousas, LA
11.05.2010 - NEWS
November 5, 2010 [Buckeye Partners L.P.] - Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) announced today that it has completed the purchase of a refined petroleum products terminal in Opelousas, Louisiana from Chevron U.S.A. Inc. This niche terminal which is connected to Colonial Pipeline currently supplies central Louisiana with branded gasoline, diesel, and ethanol. Additionally, as a long-term participant in this market, Chevron has made a multi-year commitment to maintain its historic product volumes at the terminal.
